The Reinvesting in Shoreline Economies and Ecosystems (RISEE) Act would establish several dedicated streams of funding for coastal infrastructure and resiliency in order to protect vulnerable communities and businesses most impacted by sea level rise and coastal erosion.
If enacted, the RISEE Act would establish an offshore wind revenue sharing model. Unlike for other forms of energy for which royalties are shared with adjacent states and conservation programs, current law requires that all revenues generated from offshore wind leases and production beyond state-adjacent waters be returned to the U.S. Treasury. The RISEE Act would:
Key take away points on the RISEE Act:
Coastal communities face unique risks in the face of a changing climate. With 8.6 million Americans living in areas susceptible to coastal flooding and more than $1 trillion in homes and other structures that sit within feet of the current waterline, we need a serious program to combat rising sea levels in our communities.
Current law requires all revenue generated from offshore wind leases and production beyond state waters to be returned to the U.S. Treasury. The RISEE Act would establish a process for offshore wind revenue sharing, sending a portion of those revenues to be used by states to invest in projects that directly address coastal restoration, hurricane protection, infrastructure improvements and mitigation of damage to fish, wildlife, and other natural resources.
While coastal states "hosting" offshore wind would receive the largest share of funds, it should be noted that ALL coastal and Great Lakes states would receive funding if this bill is enacted. This is because 12.5 percent of funds will flow to the National Ocean and Coastal Security Fund, which provides grants to coastal and Great Lake communities to respond to coastal erosion and sea level rise and restore coastal habitats.
The RISEE Act would also amend the Gulf of Mexico Energy Security Act (GOMESA), which established a revenue sharing program for the Gulf producing states, to eliminate the state revenue sharing cap of $375 million and to remove the Land & Water Conservation Fund’s state side funding cap of $125 million. These adjustments will enable additional revenues derived from existing oil and gas production in the Gulf of Mexico to be shared back with states for coastal restoration and resilience efforts, and LWCF program work.
The bipartisan legislation meets a critical need for additional resources to support the resilience of coastal communities and wildlife. We urge Congress to pass it this year.
As of right now, 10/24 22 the following organizations endorse this:
Congressional Sportsmen’s Foundation ● The Nature Conservancy ● Environmental Defense Fund ● National Audubon Society ● American Sportfishing Association ● Citizens for Responsible Energy Solutions ● American Clean Power Association ● Orsted ● National Wildlife Federation ● American Shore & Beach Preservation Association ● Citizens Climate Lobby ● Theodore Roosevelt Conservation Partnership ● National Marine Manufacturers Association ● National Ocean Industries Association ● Coastal States Organization ● National Ocean Policy Coalition ● Trust for Public Land ● Furgo ● City Parks Alliance ● National Recreation and Parks Association ● National Ocean Industries Association